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waterlily | I pulled out of the stock market yesterday.? |
Yesterday, I got sick of hearing how bad everything was, and how I kept losing money on my Mutual Fund (Fidelity Freedom Fund 2015). I paid $13.5 for each share and got $9.50. Basically I lost $6000.00 over the last year.
Today the market did better (just my luck).
I just don't have the stomach for the ups and downs. I've put my money in a money market. I thought of taking it out, paying the penalties, but at least I could by CD's or bonds or something.
Am I the only one pulling out? |
 |
 
Spartan Barrett
|
You are not the only one pulling out. Many, many people are pulling out because of the turmoil.
I would recommend doing the bonds. The CDs take much too long to make money with. The bonds would be a better choice. Just remember; the riskier, the better the reward if done properly. Good luck! |
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Icarus
|
Pulling out is what causes the market to go down so lots of people pulled out before you did. The irony is that you had not lost a penny in the market UNTIL you SOLD your shares for a loss. Had you kept them in the mutual fund and just quit listening to the news and checking your balances, over time your shares would have increased in value until you either were back to even or ahead with a profit. I am not saying you were wrong; you just paid a high price for your peace of mind. |
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La Vie Boheme
 |
I hope you are the only one. Panic is a bad thing. You should have stuck it out. |
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The Crystal Method
 |
I've lost quite a bit myself I bought some shares at 44 a share and now theya re at 23 a share. I hope that the stocks go back up... I am not going to sell. |
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skiddly dee
 |
Others are pulling out just like you did, and that's why the market's dropped so precipitously.
You are probably much more nervous, though - understandably, since you expect to retire around 2015, which seems like it's right around the corner.
Unfortunately, I don't think you should have sold, since your decision was based on your emotions, and presumably not because you need the money right now. Personally, I think it will go lower. But nobody knows for sure. What everyone does know is that it's very low right now. So you pretty much sold at a low (without really having to).
The people selling now should be those who need the money now, or within the next couple years. It's a bad idea to buy or sell based on emotions - easier said than done, I know.
Unfortunately, I think sometime between now and 2015, the NAV of your Fidelity Fund will increase a decent amount in value, and that would be the better time to roll it into some sort of Fixed Income investment, like an IRA / CD. The companies your fund invests in have been beaten down, but they're large, and most of them will weather the storm.
I think you should wait till the storm passes and the ups and downs aren't so erratic, which will probably be a while, maybe a year, and then put your money back into another similar mutual fund. Since you lost $6000, At the very worst you will probably regain some of your losses. And you might even recover all of them. But it's very unlikely that you would lose a huge deal more.
[caveat: I will probably do the same thing you did if the same thing happens 10 years from now :( ]
Good luck! |
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Mr. Bugsme
|
If you're young (and by that I mean under 55), I think you're better off keeping it in the market. Put aside a little each month and invest it in your mutual fund. If you contribute the same amount each month, then you buy more shares when the price is low and fewer shares when it's high. It's called dollar cost averaging. It takes a tough stomach to stay in right now, but I think you'll be better off over the long run. Good luck! |
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Rabbit
|
No you are not the only one. that is part of the problem.
Imagine a fund with $10 billion in it. It has money in 100 companies, an average of $100 million each. The average customer has $10,000 in the fund, one million customers..
Now, suppose 200,000 people decide they want their money back. That is about $2 billion that needs to be liquidated and paid out. Meanwhile a thousand other mutual funds and the like get similar sets of orders.
With all that selling and comparative little interest in buying, those that do buy will probably do it on the cheap. Just like you with some $20k and settling for some $14k, that is what helped bring the market down. Bad news in the press and investors/traders piled up at the exits, it is no surprise that things have fallen in market value.
(Interestingly, while I'm currently down in this market, during some of the really bad days, I did quite well, so thank you). |
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Kevin R
 |
Obviously, you aren' the only one, or prices would be more stable. I feel, you, like our government, reacted much too severely, in the face of doom and gloom. If you don't like volatility (the ups and downs), then by all means don't stress yourself out and get out of the market. You can still find very successful investments that fit your risk profile. First you have to know what that is. I don't reccommend taking another loss at this point, that would only be further discouraging. If I read you, wasn't your fund guaranteed as to IPO principal out to 2015? If I'm right, (I may have it confused with a different fund) holding or averaging down would have been my advice. That said write off the loss, evaluate your risk tolerance BEFORE you invest next time. I'm pulling money out of the woodwork to get IN this market! |
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knight of the Kings Kingdom
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gee
it's too bad that people don't ask these questions before they make their investments
not all times are good to be in the market
but most people on this site refuse to believe this simple fact
I guess they must be swayed by people like Cramer on TV
who keep saying "there's always a bull market somewhere"
Alls he is doing is performing a great dis-service to many people
and helping to destroy peoples lifetime savings
JUst take a look at the history of the stock market
It took 84 years for the dow to move from 100 all the way up to 700
From 1982 it climbed almost 20 fold
Do you really believe it is going to continue to climb at that pace
History says it won't
The stock marklet is all tired out
and needs a long rest
Where have stocks gone in the past 10 years?
Absolutely nowhere |
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